A few weeks ago Jim Cramer spoke with Dave Cote, the CEO of Honeywell, when he showed off some of the newest gadgets and innovation in store for 2015. Of the spectacular items that Cramer viewed, there was one that caught his eye.

The "Mad Money" host was intrigued by a potentially game changing in-flight Wi-Fi technology that will improve connectivity speed at half the cost. Cramer immediately thought of Gogo as the main beneficiary to Honeywell's new product.

Gogo is the No. 1 supplier of broadband access on airlines. And while it does dominate the market, in Cramer's perspective, the stock is heavily shorted and very volatile. Additionally, the company is not expected to show profits for another couple of years.

The stock is up 18 percent for the year but was hit hard Tuesday when Morgan Stanley released bearish research and Gogo's chief accounting officer announced his intent to leave the company.

As Cramer continues to explore the various ways in which the Internet of things can branch into our lives, he spoke with Gogo CEO Michael Small to discuss how the future of the connected aircraft could impact the airline industry.

Source: Gogo

"Our role in life is to bring bandwidth to the sky. As we do that, it is going to be used for more and more things. We got our start with passenger connectivity, but it is very clear that the connected aircraft is the future," Small said.

The CEO predicted that ultimately Gogo will generate more revenue from connecting the plane and the crew than it does from the passenger.

In light of the Germanwings tragedy that occurred in the southern France on Tuesday, Cramer asked Small if further innovation with Gogo's technology could ultimately be added to aircraft black boxes.

"Absolutely, and our hearts go out to the families involved. It's an awful situation. But yes, the connected aircraft will help," he responded.

Small clarified that the future of the connected aircraft will result in major improvement for three reasons: First, ground officials will have predictive data coming back from the aircraft. Second, investigators will be able to find the root cause of what went wrong when tragedy strikes. And third, search crews will be able to locate an aircraft faster when something goes awry.

"There is tremendous benefits to the connected aircraft," Small added.

The CEO added that the largest challenge is getting connectivity into the sky. So far this issue has been solved with low bandwidth solutions that allow passengers and crew to make phone calls and have radio communication.

"We think with our satellite technologies that we are deploying now, called 2KU, we finally have a solution that is going to work on a global basis," he said.